Xie Yuewei sign an equity transfer agreement to acquire 21.4% stake in Taishan Weilibang Wood Industry Co., Ltd. from Shenzhen Chengxin Lithium Group Co.,Ltd. (SZSE:002240) for CNY 44.9 million on June 25, 2021. Under terms of agreement, Xie Yuewei will make payment in phases as in first Phase- within 10 working days after the agreement signing and after the approval of the company's directorate, the Xie Yuewei will pay 10% of the price and After the target has been approved to be registered under the name of the buyer then it will pay will pay 50% of the price. After the first 2 payments and not later than March 31, 2022, the buyer must pay 40% of the price, that is CNY17.93 million. Post completion, Shenzhen Chengxin will no longer own any stake in Taishan Weilibang. As of March 31, 2022, the company received the third installment payment of CNY 17.93 million from Mr. Xie Yuewei. Up to now, the company has received a total of CNY 44.825 million.

As of Februray 28, 2021, Taishan Weilibang had total assets and net assets as CNY 745 million and CNY 106 million. For year ended December 31, 2020, It has total revenue, operating profit and net profit as CNY 22o million, CNY 5.1 million and CNY 5.1 million respectively.On June 25, 2021, the 21st session of the company's 7th directorate approved the proposal on the transfer of equity in Taishan Weilibang.

Xie Yuewei completed the acquisition of 21.4% stake in Taishan Weilibang Wood Industry Co., Ltd. from Shenzhen Chengxin Lithium Group Co.,Ltd. (SZSE:002240) on July 16, 2021.